Thread regarding Oracle Corp. layoffs

November 1st 2022 layoffs look likely

Oracle laid off quite a bit in early August... end of Q1. This is a shift from laying off at the first of the quarter on June 1st..

Since layoffs are clearly an accounting driven event, the latest accounting trick seems to be to put the expense at the end of the accounting quarter.

That would be November 1st for this quarter. The Oracle 10q states

We expect to incur the majority of the estimated remaining $519 million through the end of fiscal 2023

The total for severance was 888 million pretty close to the 1 billion rumored this summer. That means the rumors seem to be mostly true.

3 quarters remaining gives an average of 173 million per quarter. Typically Oracle doesn't like holiday layoffs... making December/ January unlikely.

A good spot for a layoff then is last month of Q2 ... last month of Q4.

That gives 2 more layoffs with an average of 259 million each with Targets of Tuesday November 1st and Tuesday May 2nd 2023.

We are getting an uptic of rumors of another massive layoff on the horizon. Fairly certain we have a new pattern that shows Tuesday November 1st 2022 is the likely date of an average of 259 million in severance packages.

by
| 3628 views | | 9 replies (last )
Post ID: @OP+1iZo94uF

9 replies (most recent on top)

I'm hoping for November 1st! Go Harbinger!

by
|
Post ID: @iiay+1iZo94uF

@hhtk+1iZo94uF

Where are you located? If RWS, WARN Act (2 months) and whatever remains is your severance, which I believe is your salary/12 + a week for every year beyond two that you've served.

Stock should vest too at the year mark.

by
|
Post ID: @hgga+1iZo94uF

What is a typical layoff severance for 4 & 5 yrs of service?
Will stock that vests Dec 5 be forfeited?

by
|
Post ID: @hhtk+1iZo94uF

Looks like there will be employees laid off for the holidays.

by
|
Post ID: @2vyo+1iZo94uF

Agree that Nov. 1 is much more likely, as Larry and Safra don’t want any negative publicity before CW.

But after CW, the layoffs are certain to happen. Everyone knows it.

by
|
Post ID: @2nfz+1iZo94uF

It will be 1 of 3 dates,

  1. October 3rd
  2. October 15th
  3. November 1st

My bet is November 1st

by
|
Post ID: @1inl+1iZo94uF

Yup. Anybody who is unfortunate enough to still be at Oracle is pretty much f*cked.

by
|
Post ID: @1lox+1iZo94uF

And right after Cloud World. The lists are being prepared now.

by
|
Post ID: @ebl+1iZo94uF

Post a reply

: